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Intangible Asset, Net
 6 Months Ended
Jun. 30, 2023
Intangible Asset, Net [Abstract]  
Intangible asset, net

7. Intangible asset, net

 

Intangible asset, net consists of the following:

 

   As of
December 31,
2022		  

As of
June 30,
2023

 
       (Unaudited) 
   RMB   RMB 
Cost:        
Land use right   49,292,208    49,292,208 
Franchise right   334,865    334,865 
Less: Accumulated amortization   (909,941)   (1,402,863)
Intangible asset, net   48,717,132    48,224,210 

 

Amortization expense for the six months ended June 30, 2022 and 2023 amounted to RMB82,154 and RMB492,922, respectively.

 

As of December 31, 2022 and June 30, 2023, land use right with net book value of RMB48,717,132 and RMB48,224,210 was pledged as collateral under a loan arrangement, respectively (also see Note 10).

 

As of June 30, 2023, the future estimated amortization expenses are as below.

 

As of June 30, 

2023

 
   (Unaudited) 
    RMB 
Remaining of 2023   492,922 
2024   985,844 
2025   985,844 
2026   985,844 
2027   985,844 
Thereafter   43,787,912 
Total   48,224,210